Tax prep specialist H&R Block, Inc. ( HRB ) late Thursday said its fiscal first quarter loss widened from last year on one-time charges, although adjusted results were better than analysts had expected.
The Kansas City-based company reported a first quarter net loss of $175 million, or -57 cents per share, compared with a smaller loss of $130.7 million, or -41 cents a share, in the year-ago period. Excluding one-time items, adjusted net loss was 37 cents per share.
Revenue fell almost 3% from last year to $267.6 million.
On average, Wall Street analysts expected a worse adjusted loss of 39 cents a share, albeit on higher revenue of $275.1 million.
H&R Block shares fell $1.13, or -7.4%, in premarket trading Friday.
The Bottom Line
Shares of H&R Block ( HRB ) have a 3.95% dividend yield, based on last night's closing stock price of $15.18. The stock has technical support in the $13 price area. If the shares can firm up, we see overhead resistance around the $16-$17 price levels.
H&R Block, Inc. ( HRB ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.
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